Astronics Corporation (Nasdaq: ATRO), a leading supplier of advanced
technologies and products to the global aerospace and defense
industries, today announced that it has adopted a 10b5-1 plan to
facilitate the purchase of shares during periods when it may otherwise
be prevented from acting due to securities laws and self-imposed
blackout periods. Any such purchases would be made under the company’s
previously announced share repurchase authorization. Effective June 4,
2019, repurchases made under the plan are subject to Securities and
Exchange Commission’s regulations, as well as certain price, market,
volume, and timing considerations specified in the plan. Since
repurchases under the plan are subject to such constraints, there is no
guarantee as to the exact number of shares, if any, that will be
repurchased under the plan. The plan has been established pursuant to
the authorization by the Company’s Board of Directors for the Company to
repurchase up to $50 million in common stock, which had been announced
on December 18, 2017.
About Astronics Corporation
Astronics Corporation (Nasdaq: ATRO) is a leading supplier of advanced
technologies and products to the global aerospace and defense
industries. Astronics’ products and services include advanced,
high-performance electrical power generation and distribution systems,
seat motion solutions, lighting and safety systems, avionics products,
aircraft structures, systems certification and automated test systems.
Astronics’ strategy is to increase its value by developing technologies
and capabilities, either internally or through acquisition, and using
those capabilities to provide innovative solutions to its targeted
markets and other markets where its technology can be beneficial.
Through its wholly owned subsidiaries, Astronics has a reputation for
high-quality designs, exceptional responsiveness, strong brand
recognition and best-in-class manufacturing practices. The Company
routinely posts news and other important information on its website at www.astronics.com.
For more information on Astronics and its products, visit its Web
site at www.astronics.com.
Safe Harbor Statement
This news release contains forward-looking statements as defined by the
Securities Exchange Act of 1934. One can identify these forward-looking
statements by the use of the words “expect,” “anticipate,” “plan,”
“may,” “will,” “estimate” or other similar expressions. Because such
statements apply to future events, they are subject to risks and
uncertainties that could cause actual results to differ materially from
those contemplated by the statements. Important factors that could cause
actual results to differ materially from what may be stated here include
the progress being made with the three operations having losses, the
continuation of the trend in growth with passenger power and
connectivity on airplanes, the ability of the Company to advance its
Test business, the ability to achieve at or near breakeven performance
in the Test business, the Company’s ability to deliver a solid 2019, the
ability to win new projects in the Test business and margins to expand
with growth, the success of the Company achieving its sales
expectations, the state of the aerospace and defense industries, the
market acceptance of newly developed products, internal production
capabilities, the timing of orders received, the status of customer
certification processes and delivery schedules, the demand for and
market acceptance of new or existing aircraft which contain the
Company’s products, the need for new and advanced test and simulation
equipment, customer preferences and other factors which are described in
filings by Astronics with the Securities and Exchange Commission. The
Company assumes no obligation to update forward-looking information in
this news release whether to reflect changed assumptions, the occurrence
of unanticipated events or changes in future operating results,
financial conditions or prospects, or otherwise.
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